Multisite limitations for addon domains: can I have a multisite network with addon domains?

I have two blogs both hosted under a 'root' URL: Both are addon domains and one is a subdomain as well. To be specific and are both addon domains of and both are blogs. I plan for them both to have exactly the same functionality by using the same theme and same plug-ins but with different content. Since these sites are hosted on the same physical server, it seems viable. I want to be the 'master' site (if that concept is valid.)

Can I do that? Are there any subtle tricks I should know about?